TOPIC 6 – BASIS OF DUTIABLE VALUE PART 2 (QUIZ)

A shipment of 50 cartons containing grapes arrived at Mactan Cebu International Airport with total CPT value of $35,000.00. The packing list shows weight of 3 kilograms per carton and a dimension of 12” x 8” x 12” per carton. The SAD indicated freight charges of $450.00 while the IATA freight rate was $3.75 per kilogram. The rate of exchange was P52.50/$1.00. How much is the dutiable freight?

• $450.00

• $413.44

• $590.63

• $590.18

A shipment of 50 cartons containing grapes arrived at Mactan Cebu International Airport with total CPT value of $35,000.00. The packing list shows weight of 3 kilograms per carton and a dimension of 12” x 8” x 12” per carton. The SAD indicated freight charges of $450.00 while the IATA freight rate was $3.75 per kilogram. The rate of exchange was P52.50/$1.00. How much is the dutiable insurance?

• $1,382.00

• $691.00

• $1,383.46

• $691.73

A shipment of 50 cartons containing grapes arrived at Mactan Cebu International Airport with total CPT value of $35,000.00. The packing list shows weight of 3 kilograms per carton and a dimension of 12” x 8” x 12” per carton. The SAD indicated freight charges of $450.00 while the IATA freight rate was $3.75 per kilogram. The rate of exchange was P52.50/$1.00. How much is the dutiable value?

• P1,910,055.00

• P1,873,777.50

• P1,917,438.08

• P1,917,414.45

A shipment of 3 x 20’ vans containing rice arrived at Port of Davao and was consigned to National Food Authority. The commercial invoice shows total CFR value of $28,000.00 inclusive of freight charges of $2,500.00. The importer provided local insurance of P42,900.00 with official receipt and certification presented to BOC. The rate of exchange at the time of filing was P42.90/$1.00. How much is the dutiable freight?

• $2,500.00

• $2,800.00

• $2,550.00

• $2,900.00

A shipment of 3 x 20’ vans containing rice arrived at Port of Davao and was consigned to National Food Authority. The commercial invoice shows total CFR value of $28,000.00 inclusive of freight charges of $2,500.00. The importer provided local insurance of P42,900.00 with official receipt and certification presented to BOC. The rate of exchange at the time of filing was P42.90/$1.00. How much is the dutiable insurance?

• $1,020.00

• $1,000.00

• $1,008.00

• $1,010.00

A shipment of 3 x 20’ vans containing rice arrived at Port of Davao and was consigned to National Food Authority. The commercial invoice shows total CFR value of $28,000.00 inclusive of freight charges of $2,500.00. The importer provided local insurance of P42,900.00 with official receipt and certification presented to BOC. The rate of exchange at the time of filing was P42.90/$1.00. How much is the dutiable value?

• P1,257,828.00

• P1,256,970.00

• P1,158,729.00

• P1,244,100.00

A shipment of 8 x 40’ reefer vans containing frozen cattle meat from Xiamen, China arrived at Port of Cebu. The shipment shows total FOB value of $45,000.00 and freight charges of $12,000.00 without certification secured from the shipping lines. The rate of exchange at the time of filing was P48.45/$1.00. How much is the dutiable freight?

• $12,000.00

• $10,000.00

• $14,400.00

• $14,000.00

A shipment of 8 x 40’ reefer vans containing frozen cattle meat from Xiamen, China arrived at Port of Cebu. The shipment shows total FOB value of $45,000.00 and freight charges of $12,000.00 without certification secured from the shipping lines. The rate of exchange at the time of filing was P48.45/$1.00. How much is the dutiable insurance?

• $900.00

• $1,500.00

• $1,800.00

• $1,200.00

A shipment of 8 x 40’ reefer vans containing frozen cattle meat from Xiamen, China arrived at Port of Cebu. The shipment shows total FOB value of $45,000.00 and freight charges of $12,000.00 without certification secured from the shipping lines. The rate of exchange at the time of filing was P48.45/$1.00. How much is the dutiable value?

• P2,921,535.00

• P2,848,860.00

• P2,965,140.00

• P2,805,255.00

A shipment of 100 cartons of ball pen arrived at NAIA with total FCA value of $8,000.00. Each carton weighs 3 kilograms and had a dimension of 30 cm x 20 cm x 25 cm. The shipment is subject to IATA rate of $1.80 per kilogram. The exchange rate prevailing at time of filing is P44.50/$1.00. Determine the dutiable value.

• P383,145.00

• P394,270.00

• P378,150.00

• P387,150.00